Bengal Bubble of 1769

The Bengal Bubble, caused by the increasing overvaluation of the East India Company stock between 1757 and 1769, led to the Great East Indian Crash, a major financial crisis that occurred in 1769.^[1]^[2] The bubble and crash occurred in the wake of the conquest of Bengal by the East India Company in 1757 by Robert Clive. Following the battle, Clive and the company acquired increasing powers in Bengal, through the installation of the puppet regime of Mir Jafar, including control of the tax collection rights for the province from the weak and declining Mughal Empire. By 1769, the East India Company stock was trading at £284. By 1784, the stock had declined to £122, a fall of 55%, and a series of bailout measures and increasing control by the crown led to the demise of the company.

Several historical events, including the attack on Company holdings by Hyder Ali in 1769, the Bengal famine of 1770, and growing revelations of the company's actions, were the immediate causes of the crash, but the primary cause was the predatory governance of the province by the company, which led to the collapse of the 18th century Bengal textile industry.

In the wake of the crash and the resulting outcry in England, attempts were made to reform the company, but, due to the complicated situation in England at the time, it was only in 1784, with the passage of Pitt's India Act, that reform was seriously undertaken.

References

^ Kurtulmuşlar, Mevza; Kıral, Halis (2022), Açikgöz, Bernur (ed.), "Bengal Bubble (1669–1772) and East India Syndrome (1669– –)", Black Swan: Economic Crises, Volume I, Accounting, Finance, Sustainability, Governance & Fraud: Theory and Application, Singapore: Springer Nature, pp. 33–44, doi:10.1007/978-981-19-5252-4_3, ISBN 978-981-19-5252-4, retrieved 2023-09-04
^ Robins, Nick (2007). "This Imperious Company: The English East India Company and its Legacy for Corporate Accountability". The Journal of Corporate Citizenship (25): 31–42. doi:10.2307/jcorpciti.25.31. ISSN 1470-5001.

v t e Financial bubbles
Market trend Credit cycle Irrational exuberance Social contagion Real-estate bubble Stock market bubble
Commercial revolution (1000–1760)	Tulip mania (1634–1637) Mississippi bubble (1684–1720) South Sea bubble (1711–1720) Bengal Bubble of 1769 (1757–1769)
1st Industrial Revolution (1760–1840)	Canal Mania (c. 1790–c. 1810) Carolina gold rush (1802–1825) 1810s Alabama real estate bubble Georgia Gold Rush (1828–c. 1840) 1830s Chicago real estate bubble Chilean silver rush (1830–1850)
1840–1870	Railway Mania (c. 1840–c. 1850) California gold rush (1848–1855) Queen Charlottes Gold Rush (1851) Victorian gold rush (1851–c. 1870) New South Wales gold rush (1851–1880) Australian gold rushes (1851–1914) Fraser Canyon Gold Rush (1858) Pike's Peak gold rush (1858–1861) Rock Creek Gold Rush (1859) Pennsylvania oil rush (1859–1891) Similkameen Gold Rush (1860) Stikine Gold Rush (1861) Colorado River mining boom (1861–1864) Otago gold rush (1861–1864) Cariboo Gold Rush (1861–1867) First Nova Scotia Gold Rush (1861–1874) West Coast gold rush (1864–1867) Big Bend Gold Rush (c. 1865) Vermilion Lake gold rush (1865–1867) Kildonan Gold Rush (1869) Omineca Gold Rush (1869)
2nd Industrial Revolution (1870–1914)	1870s Lapland gold rush Coromandel Gold Rushes (c. 1870–c. 1890) Cassiar Gold Rush (c. 1870–c. 1890) Black Hills gold rush (1874–1880) Colorado Silver Boom (1879–1893) Western Australian gold rushes (c. 1880–c. 1900) Indiana gas boom (c. 1880–1903) Ohio oil rush (c. 1880–c. 1930) Tierra del Fuego gold rush (1883–1906) Cayoosh Gold Rush (1884) Witwatersrand Gold Rush (1886) Encilhamento (1886–1890) Cripple Creek Gold Rush (c. 1890–c. 1910) Klondike Gold Rush (1896–1899) Second Nova Scotia Gold Rush (1896–1903) Kobuk River Stampede (1897–1899) Mount Baker gold rush (1897–c. 1925) Nome Gold Rush (1899–1909) Fairbanks Gold Rush (c. 1900–1918) Texas oil boom (1901–1918) Cobalt silver rush (1903–1918) Porcupine Gold Rush (1909–1918)
Interwar period (1918–1939)	1920s Florida land boom (c. 1920–1925) Fairbanks Gold Rush (1918–c. 1930) Texas oil boom (1918–1945) Cobalt silver rush (1918–c. 1930) Porcupine Gold Rush (1918–1945) 1930s Kakamega gold rush Third Nova Scotia Gold Rush (1932–1942)
Post–WWII expansion (1945–1973)	Texas oil boom (1945–c. 1950) Porcupine Gold Rush (1945–c. 1960) Poseidon bubble (1969–1970)
The Great Inflation (1973–1982)	1970s commodities boom Mexican oil boom (1977–1981) Silver Thursday (1980) New Zealand property bubble (c. 1980–1982)
Great Moderation/ Great Regression (1982–2007)	1980s oil glut New Zealand property bubble (1982–) Spanish property bubble (1985–2008) Japanese asset price bubble (1986–1990) Dot-com bubble (1995–2000) Baltic states housing bubble (2000–2006) Irish property bubble (c. 2000–2007) 2000s commodities boom (2000–2008) 2000s Danish property bubble (2001–2006) United States housing bubble (2002–2006) Romanian property bubble (2002–2007) Polish property bubble (2002–2008) Canadian property bubble (2002–) Chinese property bubble (2005–2011) Lebanese housing bubble (2005–2008) Chinese stock bubble of 2007 Uranium bubble of 2007
Information Age (2007–present)	2000s commodities boom (2008–2014) Lebanese housing bubble (2008–) Corporate debt bubble (2008–) Australian property bubble (2010–) Cryptocurrency bubble (2011–) Everything bubble (2020–21)
Carbon bubble Green bubble Social media stock bubble Unicorn bubble U.S. higher education bubble

v t e Financial crises
Bank run Commodity price shocks Credit crunch Credit cycle Currency crisis Debt crisis Energy crisis Financial contagion Social contagion Flash crash Hyperinflation Liquidity crisis Accounting Capital Funding Market Minsky moment Social crisis Stock market crash
Pre-1000	Financial crisis of 33 CE Crisis of the Third Century (235–284 CE)
Commercial revolution (1000–1760)	Great Bullion Famine (c. 1400–c. 1500) The Great Debasement (1544–1551) Dutch Republic stock market crashes (c. 1600–1760) Kipper und Wipper (1621–1623) Tulip mania crash (1637) South Sea bubble crash (1720) Mississippi bubble crash (1720)
1st Industrial Revolution (1760–1840)	Amsterdam banking crisis of 1763 Bengal bubble crash (1769–1784) British credit crisis of 1772–1773 Dutch Republic financial collapse (c. 1780–1795) Copper Panic of 1789 Panic of 1792 Panic of 1796–1797 Danish state bankruptcy of 1813 Post-Napoleonic Irish grain price and land use shocks (1815–1816) Panic of 1819 Panic of 1825 Panic of 1837
1840–1870	European potato failure (1845–1856) Great Irish Famine Highland Potato Famine Panic of 1847 Panic of 1857 Panic of 1866 Black Friday (1869)
2nd Industrial Revolution (1870–1914)	Panic of 1873 Paris Bourse crash of 1882 Panic of 1884 Arendal crash (1886) Baring crisis (1890) Encilhamento (1890–1893) Panic of 1893 Australian banking crisis of 1893 Black Monday (1894) Panic of 1896 Panic of 1901 Panic of 1907 Shanghai rubber stock market crisis (1910) Panic of 1910–11 Financial crisis of 1914
Interwar period (1918–1939)	Early Soviet hyperinflation (1917–1924) Weimar Republic hyperinflation (1921–1923) Shōwa financial crisis (1927) Wall Street crash of 1929 Panic of 1930 Chinese hyperinflation (1937-1950)
Wartime period (1939–1945)	Greek hyperinflation (1941–1946) Chinese hyperinflation (1937-1950)
Post–WWII expansion (1945–1973)	Hungarian pengő hyperinflation (1945–1946) Kennedy Slide of 1962 1963–1965 Indonesian hyperinflation Chinese hyperinflation (1937-1950)
Great Inflation (1973–1982)	1970s energy crisis (1973–1980) 1973 oil crisis 1973–1974 stock market crash Secondary banking crisis of 1973–1975 Steel crisis (1973–1982) Latin American debt crisis (1975–1982) 1976 British currency crisis 1979 oil crisis Brazilian hyperinflation (1980–1982)
Great Moderation/ Great Regression (1982–2007)	Brazilian hyperinflation (1982–1994) Souk Al-Manakh stock market crash (1982) Chilean crisis of 1982 1983 Israel bank stock crisis Black Saturday (1983) Savings and loan crisis (1986–1995) Cameroonian economic crisis (1987–2000s) Black Monday (1987) 1988–1992 Norwegian banking crisis Japanese asset price bubble crash (1990–1992) Rhode Island banking crisis (1990–1992) 1991 Indian economic crisis 1990s Swedish financial crisis 1990s Finnish banking crisis 1990s Armenian energy crisis Cuban Special Period (1991–2000) Black Wednesday (1992 Sterling crisis) Yugoslav hyperinflation (1992–1994) 1994 bond market crisis Venezuelan banking crisis of 1994 Mexican peso crisis (1994–1996) 1997 Asian financial crisis October 1997 mini-crash 1998 Russian financial crisis 1998–1999 Ecuador economic crisis 1998–2002 Argentine great depression Samba effect (1999) Dot-com bubble crash (2000–2004) 9/11 stock market crash (2001) 2001 Turkish economic crisis South American economic crisis of 2002 Stock market downturn of 2002 2002 Uruguay banking crisis 2003 Myanmar banking crisis 2000s energy crisis (2003–2008) 2004 Argentine energy crisis 2007 Chinese stock bubble crash Zimbabwean hyperinflation (2007–present)
Great Recession (2007–2009)	2007–2008 financial crisis September 2008 October 2008 November 2008 December 2008 2009 Subprime mortgage crisis 2000s U.S. housing market correction U.S. bear market of 2007–2009 2008 Latvian financial crisis 2008–2009 Belgian financial crisis 2008–2009 Russian financial crisis 2008–2009 Ukrainian financial crisis 2008–2011 Icelandic financial crisis 2008–2011 Irish banking crisis 2008–2014 Spanish financial crisis Blue Monday Crash 2009 European debt crisis Greek government-debt crisis
Information Age (2009–present)	2009 Dubai debt standstill Venezuelan banking crisis of 2009–2010 2010–2014 Portuguese financial crisis Energy crisis in Venezuela (2010–present) Syrian economic crisis (2011–present) August 2011 stock markets fall 2011 Bangladesh share market scam 2012–2013 Cypriot financial crisis 2013 Chinese banking liquidity crisis Venezuela economic crisis (2013–present) 2014–2016 Brazilian economic crisis Puerto Rican government-debt crisis (2014–2022) Russian financial crisis (2014–2016) 2015 Nepal blockade 2015–2016 Chinese stock market turbulence 2015–2016 stock market selloff Brexit stock market crash (2016) Venezuelan hyperinflation (2016–2022) 2017 Sri Lankan fuel crisis Ghana banking crisis (2017–2018) Turkish economic crisis (2018–present) Lebanese liquidity crisis (2019–present) Sri Lankan economic crisis (2019–present) COVID-19 pandemic Financial market impact 2020 stock market crash Recession Chinese property sector crisis (2020–present) 2021–2023 inflation surge 2022 Russian financial crisis Pakistani economic crisis (2022–present) 2022 stock market decline 2022–2024 German economic crisis 2023 United States banking crisis 2023–2024 Egyptian financial crisis
List of banking crises List of economic crises List of sovereign debt crises List of stock market crashes and bear markets

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